Business Expansion Plan Template

1. Signs that indicate the need for business expansion.

• During a long enough period of time you feel a need to increase personnel which shows inability to maintain current production level or volume of services to meet constantly growing demand.
• After you have tried introducing automation of business process, you are unable to meet current market demand.
• Your business is unable to enter diverse markets due to it can no more surmount difficulties and market barriers
• You cannot overcome rivals, especially if your business cannot hold its position on international markets.
• All your efforts to localize service points and representatives are failed.
• You cannot keep more inventory as growing price fluctuations don't allow just-in-time procurement.
• Your current supply chain is hard pressed and you feel great difficulties to manage it with existing logistics operations.

2. Business expansion strategy components.

• Personnel. You should know that increasing personnel doesn't require a considerable business expansion funding. Pay-roll can be covered by an increase in revenues from your expanding business. So try planning your business expansion scheme with minimum funding but with maximum personnel efforts.
• Automation. Extra automation of business processes and introduction of automated machinery will require extra skills for implementing new standards and managing new equipment. Ideally, to deliver a new and more effective business expansion definition and understanding to your personnel, you should train just a few of your best people to operate new machines or manage automation processes.
• Internet and Outsourcing. Opening localized service points and representative offices doesn't always need to be by buying or renting real estate unless you explore opportunities of outsourcing. Internet is the best way to reach new overseas customers. If you have a website(s), you should use it to expand your business. You can support your clients in the best way as you are able to give them 24/7 support service.
• Warehousing. Constructing or leasing new warehouse facilities will increase your asset base but this requires considerable investments. Before making a new investment, you should critically analyze whether you can get by with existing warehouse spaces. You can try to reequip warehouses, maximize space ....

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